BDO Unibank expressed intention to fund more critical water infrastructure projects in the country after providing for San Miguel Corp.’s Luzon Clean Water Development Corp. (LCWDC) and the Razon Group’s Wawa bulk water supply project.
In a statement, the bank said it is committed to promote a more sustainable environment and water use efficiency by funding infrastructure projects that provide livelihood and opportunities to contribute to the nation’s progress.
LCWDC provides water services to the whole province of Bulacan through the Bulacan bulk water supply project (BBWSP), a public private partnership project of the national government.
LCWDC helps address the issues encountered by the water districts of Bulacan such as inadequate source of water supply, low water pressure due to limited distribution systems and saline water intrusion into the groundwater.
BDO Unibank funded the bulk of BBWSP’s required project cost and helped extend the long-term loan facility that was used to finance the construction of stages 1 and 2 of the project which covered the treatment and delivery of bulk water to 13 local government units in Bulacan.
BDO Unibank also provided the required financing to the Wawa bulk water supply project of Wawa JVCo which is a subsidiary of Prime Infra, Razon Group’s infrastructure arm.
The Wawa project is deemed as one of the important measures of the government in solving the water crisis in Metro Manila and the province of Rizal as it is also designed to address flooding problems in downstream communities caused by typhoons and protect the eastern part of Metro Manila and lower areas in Rizal, Marikina and Pasig.
